The typical owner-occupied home in Cotter is worth about $193,100, 3% above the Arkansas median of $188,000 and 42% below the national median of $332,700. Owners pay a median $1,042 a year in property taxes, about 0.54% of their home's value, close to the Arkansas rate of 0.55%. The median household earns $35,792 a year, so the median home costs 5.4 times the median income (3.1 times for Arkansas). 71% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Cotter at a glance
| Cotter | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $193,100 | $188,000 | $332,700 |
| Median property tax paid per year | $1,042 | $1,040 | $3,119 |
| Property tax as a share of value | 0.54% | 0.55% | 0.94% |
| Median household income | $35,792 | $60,773 | $80,734 |
| Homes lived in by their owners | 71% | 66% | 65% |
| Owner homes with a mortgage | 52% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $1,403 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 31.4% | 18.5% | 21.0% |
| Median rent | $800 | $947 | $1,413 |
| Rent as a share of renters' income | 38.3% | 27.6% | 30.6% |
| Median year homes were built | 1965 | 1987 | 1980 |
| Vacant homes | 20.6% | 13.5% | 10.1% |
| Population | 1,063 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Cotter
At this week's average 30-year rate of 7.11%, buying the median Cotter home of $193,100 with 20% down costs about $1,207 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,528, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $51,709 for the 20%-down payment. That payment is 40% of the median Cotter household income of $35,792; at that income and 20% down, the 28% guideline points to a home of about $134,000.
The median rent here is $800 a month, so owning the median home costs about $407 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $38,620 |
|---|---|
| Loan amount | $154,480 |
| Principal and interest | $1,039 |
| Property taxes (0.54% a year) | $87 |
| Homeowners insurance (our estimate, 0.5% a year) | $80 |
| PMI | $0 |
| Total per month | $1,207 |
Change the numbers in the calculator
| Down payment | $6,758 |
|---|---|
| Loan amount | $189,602 |
| Principal and interest | $1,275 |
| Property taxes (0.54% a year) | $87 |
| Homeowners insurance (our estimate, 0.5% a year) | $80 |
| FHA mortgage insurance | $85 |
| Total per month | $1,528 |
Change the numbers in the calculator
Questions about home buying in Cotter
What is the median home value in Cotter?
About $193,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cotter?
Homeowners pay a median $1,042 a year, which is about 0.54% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Cotter?
For the median home with 20% down at 7.11%, the payment is about $1,207 a month. Keeping that under 28% of gross income takes about $51,709 a year.
More about Cotter
- Mortgage Refinance in Cotter
- Debt Relief in Cotter
- Home Equity Loans in Cotter
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data